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Netflix, Inc.

5/18/2013, 6:36 PM ET

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Thursday, May 16, 1:12 PM Netflix (NFLX -2.8%) strengthened its position as the leading engagement app on tablets, according to usage data tracked by NPD. In March, Netflix users spent 2.5 hours per active tablet a week on the service and averaged 45 minutes a session. The user tracking also indicated a high percentage of users are accessing Netflix through wi-fi connections which may ease concerns of the NFLX impact on cellular networks. Comment! [Consumer]
Thursday, May 16, 5:00 AM Based on his latest 13F filing with the SEC, Carl Icahn put in a solid Q1 as the value of his holdings rises from $12.9B at the end of Q4 to $16.9B as of March. New additions include loudly trumpeted stakes in Herbalife (HLF) and Dell (DELL) as well as a 3.7M share stake in Nuance Communications (NUAN). Icahn's Netflix (NFLX) stake remains on the books and is now worth more than $1B. Comment!
Wednesday, May 15, 12:50 PM The Qwikster debcale makes Netflix (NFLX +4%) wary of raising prices for now, says CFO David Wells at a JPMorgan conference. "We're still mindful that any negative pricing things could set that fire off again." Wells acknowledges Arrested Development's May 26 launch (previous) "might have an impact" on Q2 subscriber adds, given its "very, very loyal fan base," but tries to temper hopes for a surge. Unsurprisingly, Netflix has no plans to sell ads. The company remains in talks with Epix and Viacom; a deal with the latter will expire this month. Comment! [Tech, Consumer]
Wednesday, May 15, 9:54 AM More on Netflix: Some positive sell-side notes are helping shares rally to levels last seen in Aug. '11 (NFLX +4.2%). RBC, which launched coverage with an Outperform on March 5, has raised its PT to $250, arguing EPS could eventually top $10 - the 2014 consensus is $3.13. Also, BTIG (Buy, $250 PT) reports a survey of 427 people in line at a Bluth Frozen Banana Stand set up to promote the May 26 launch of Arrested Development found 86% were Netflix subscribers, and 63% of the remainder said they would/are likely to subscribe because of AD (is this a case of selection bias?). 1 Comment [Tech, On the Move, Consumer]
Wednesday, May 15, 9:19 AM A new study finds Netflix (NFLX) accounts for close to a third of all traffic on broadband networks in North America, roughly the same level as a year ago. Though the company is a drain on broadband providers, it's a symbiotic relationship as its growing popularity also offers cable/satellite/telco companies an easier way to upsell customers faster speeds. 7 Comments [Consumer]
Wednesday, May 15, 8:02 AM Netflix (NFLX) CEO Reed Hastings tells the Financial Post that he thinks traditional fixed TV services will die out as a "bunch of different apps" compete for the time and money of consumers. The exec also said during the expansive interview that he doesn't see Netflix raising its $8 monthly fee despite rising content costs. 13 Comments [Consumer]
Monday, May 13, 2:13 PM "I think Netflix (NFLX +4.1%) could be this decade's Amazon," says Whitney Tilson in a Yahoo talk (video). Though Tilson admits to "trimming" his position during Netflix's run-up, he still considers it undervalued relative to other media providers - "They're trading at $400 per subscriber in a world of $1,000 per sub" - and argues its scale gives it a big edge - "Who else is going to spend $3 billion a year for streaming content?" Of course, many of the firms valued at $1,000/sub are getting a lot more than $8/month. Netflix investors seem to be betting the company's library and customer loyalty will allow it to raise prices over time. (U.K. deals) 7 Comments [Tech, On the Move, Consumer]
Monday, May 13, 10:02 AM Netflix (NFLX +3.9%) will add a selection of exclusive titles from Disney, Marvel, and Dreamworks to its service in the U.K. and Ireland over the next few months. The addition of the fresh content is aimed primarily at family audiences. 1 Comment [Consumer]
Friday, May 10, 1:21 PM "We haven't sold a share of Netflix (NFLX +0.5%)," says Carl Icahn in an animated CNBC appearance (video) highlighted by broadsides fired at Michael Dell and (Dell short) Jim Chanos. The comments have helped Netflix, which has nearly tripled since Icahn disclosed his stake in the company last October, tick slightly higher. 2 Comments [Tech, Consumer]
Thursday, May 9, 10:20 AM Netflix (NFLX -0.5%) adds shows from Disney Junior and Disney XD to its streaming service. The development follows a pricey exclusivity deal the company struck with Disney. For now, the kids section of Netflix's programming will be kept free of commercials but the lure of cereal and toy advertising dollars could change that at a future date. 3 Comments [Consumer]
Wednesday, May 8, 8:43 AM Spark Networks (LOV) jumped 4.4% yesterday as Whitney Tilson - looking for the next Netflix (NFLX) - thinks he's found it with the owner of JDate and ChristianMingle. Subscription-based, low price and high perceived value, dominating a niche, asset-light and scalable - what's not to like? Tilson's been an owner (through former partner Glenn Tongue) for 3 years and recently tripled his postion to 1.9% of the company. 1 Comment [Quick Ideas]
Monday, May 6, 9:57 AM Shares of Netflix (NFLX -3.3%) hit some turbulence after chatter over a potential secondary offering crops up. There isn't anything definitive out from the company, but with content costs rising and share price up a clean double for the year the move wouldn't shock many analysts. 2 Comments [Consumer, On the Move]
Wednesday, May 1, 12:45 PM 1,794 titles from MGM, Universal, and Warner Bros. were removed from Netflix's (NFLX -1.4%) streaming library today, as the studios make the content exclusive to the newly-launched Warner Archive Instant service (it costs $2/month more than Netflix, and has a much smaller library). Netflix calls the content loss business as usual, and points out it's also adding 500+ titles today. Last month, Reed Hastings stated a Netflix/Viacom cable TV show deal that expires this month won't be renewed, though Netflix might hold onto "particular shows." 1 Comment [Tech, Consumer]
Monday, April 29, 1:48 PM Barry Diller had some intriguing comments on upstart Aereo during a Bloomberg TV interview: 1) If the legal battles go Aereo's way, Diller sees a radical revolution where consumers have one wire into their house. Think cord-cutting on steroids - potentially good for Netflix (NFLX -0.1%) but clearly bad for broadcasters (CBS, CMCSA, DIS, AMCX). 2) Aereo could be profitable at 10M-20M subscribers. 3) What about media heavyweights such as News Corp (NWS, NWSA) threatening the nuclear option of going to cable? Diller thinks it's a grab for fees that won't play well for consumers. (video) 10 Comments [Consumer, Tech]
Friday, April 26, 8:58 AM Netflix (NFLX) +1.2% in spite of lower equity futures as Lazard raises its PT all the way to $325 from $250. The firm, which upgraded Netflix in January following its blowout Q4, thinks the company's margins can eventually be similar to those of HBO and Starz. 2 Comments [Tech, Consumer]
Thursday, April 25, 6:45 AM Netflix (NFLX) indicates in a letter to shareholder that it plans to raise capital as needed to fund the cost of producing original programming. The company invests more than $2B a year on programming, a cost that looms as an impediment to profitability. (Netflix letter .pdf) 1 Comment [Consumer, Tech]

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